According to The Times of India, the Indian Government is to seek expressions of interest in building two new world class shipyards, able to build ships of over 300,000 dwt.

One yard will located on the west coast of India and the other on the east coast. The Mumbai Port Trust (MbPT) has been asked to manage the expressions of interest in the west coast yard and Ennore Port to manage those for the east coast yard,

The yards are to be operational in three years from the time a contract is awarded.

Shipbuilding ministry officials told the Times of India that the government is keen to fund each yard by up to Rs 6 billion (about US$132 million) in each shipyard and may even take a 51% stake.

"Funds will not be an issue. But we want technological backing for the shipyard from global players," the officials are quoted as saying.

Each yards will have a capability to build at least 8 ships each year in the first phase. Later on, the capacity will be raised to 24 ships along with steel fabricating capacities of 60,000 tonne annually.